The PS3 struggled in its first few years but its sales were never as bad as the PS-Vita and there are a variety of reasons for it; after all, the PS3 sold (roughly) 8 million units in 2007 and 10 million in 2008 to reach 10 million units sold after 14 months and 20 million units sold after 26 months. The PS3's strengths was a huge established brand after the PS2, a media format (Blu-Ray) that had a small but dedicated following, competition (XBox 360) that struggled with quality and appeal in many markets, and agressive price cuts for the first few years.
The PS-Vita is in a very different position ... at the current rate it is selling it will probably take 12 to 14 months for it to sell 5 million units (roughly half the rate of the PS3), the Playstation brand isn't as strong as it once was, the PS-Vita doesn't offer much unique utility (media formats/etc.) that isn't readily available in other devices, their competition is all around very strong, and Sony isn't in a financial position to be particularly agressive with the price.
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